Finance Minister Clyde Caruana addresses matters on Covid, Blockchain and Medical Cannabis, and the future of Malta’s economy

In an interview with Lovin Malta, new Finance Minister Clyde Caruana faced the facts with the reality that the ‘Blockchain Island’ concept of a few years ago is slowly fading away and will eventually be a thing of the past unless the traditional banks are on board with the situation.?

This point followed the Minister’s brief analysis of the current economic situaiton of the country and reflected on the reality that things will need to take time in order for our previous understanding of what normality was, is to return, saying that

If restrictions start to ease then that of course will give enough time for the economy to start recovering’.?

The Minister emphasised that we need to keep in mind that the difficulties and challenges are there and so it is nto so easy to say that everything will be ‘business as usual’.?

‘We have to make sure that we have what it takes in terms of skills’? continues Caruana, where he then also addresses the issue of Medical Cannabis saying how he believes that the country needs to convince the retail banks that the manufacturing of this substance is the same as that of any other medical product.

The issue of tourism in post-covid times was also brought up to which Minister Caruana seemed optimistic about the future of the tourism in Malta, saying that the country definitely needs to strike harder with its marketing campaign so as to be abel to regain one of its economic pillars.?

In addressing the issue of MoneyVal and the country’s recent happenings, the Minister seemed to have faith that Malta will pass the anti-money laundering agency’s test and economic stability will be restored.?

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